Cheap Homes for Rent in Tempe, AZ from $600 (105 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in Tempe.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Read Article
property at 521 W 5th St

521 W 5th St

TempeAZ85281

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article
property at 5312 E Taylor St

5312 E Taylor St

PhoenixAZ85008
property at 5900 E Thomas Rd

5900 E Thomas Rd

ScottsdaleAZ85251
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044
property at 5900 E Thomas Rd

5900 E Thomas Rd

ScottsdaleAZ85251

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044
property at 616 S Hardy Dr

616 S Hardy Dr

TempeAZ85281
property at 2938 N 61st Pl

2938 N 61st Pl

ScottsdaleAZ85251

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article
property at 1234 W 4th St

1234 W 4th St

TempeAZ85281
property at 1942 S Emerson

1942 S Emerson

MesaAZ85210

Phoenix's Best Affordable Neighborhoods

Learn about Phoenix and the best places to live with original content written by our Local Expert Andrew Jollett

Read Article
Showing Results 1-50, Page 1 of 3

Tempe, AZ Local Guide

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 06/08/2025

Current apartment rentals in the Tempe, AZ area range in price from $699 to $14,000 with an overall median price of $3,179. The three Tempe neighborhoods with the lowest median rent pricing are Guadalupe at $898, Alameda at $699, and Tally Ho Farms Raintree at $1,154. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Guadalupe$2,024$898164
Alameda$2,222$6991393
Tally Ho Farms Raintree$2,390$1,154164
Apache$2,438$700577
The Lakes$2,845$925235
South Tempe$4,390$898403
West Chandler$5,945$1,007316

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at Valencia Park in the South Phoenix neighborhood priced from $750. The Molino Apartments in the South Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $799. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Valencia ParkSonomaStudio,1BA$750
The Molino ApartmentsStudio 315sqftStudio,1BA$799
The Link ApartmentsStudio - ClassicStudio,1BA$825
TerrasolA11BR,1BA$859
Tides on UniversityS1 CStudio,1BA$865
Villetta Apartment HomesS1Studio,1BA$893
Papago Gardens ApartmentsSantorini Villas - 1 Bedroom1BR,1BA$896
Monterey VillageS1 | StudioStudio,1BA$899
University Pointe ApartmentsStudioStudio,1BA$899
Axio Apartments1x11BR,1BA$900

Best Value Apartments for Rent in Tempe, AZ

As of June 08, 2025 the best value apartment in the Tempe area is the $1.44 price per square foot 3 Bedroom 2 Bath Unit Model at The Howe Apartments in the in the South Phoenix neighborhood starting from $1,899. The second greatest value Tempe apartment is the B1 Model at Avenue 8 starting at $1,325 with a $1.20 price per square foot in the South Phoenix neighborhood. Here is today’s list of the best values for Tempe apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Howe Apartments3 Bedroom 2 Bath Unit3BR,2BA$1.44
Avenue 8B12BR,2BA$1.20
Parq at East ArcadiaB2 Townhome2BR,1.5BA$1.38
Monterey Apartments2x22BR,2BA$1.39
Highland Park2x2 Reno2BR,2BA$1.32
525-539 W Pebble Beach2 Beds, 1 bath2BR,1BA$1.42
Corsican2 Bed - 1 Bath2BR,1BA$1.42
Nine20 TempeB12BR,2BA$1.39
MadEry ApartmentsSaguaro2BR,1BA$1.41
TerrasolA11BR,1BA$1.39

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Tempe

What type of rentals are currently available in Tempe?

There are currently 1147 Apartments for Rent in Tempe, AZ with pricing that ranges from $699 to $30,000. There are also 792 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tempe ranging from $695 to $16,000.

What is the current price range for Rental Homes in Tempe?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Tempe ranges from $695 to $16,000 with an average monthly rent of $2,550.

How much are larger Three and Four Bedroom Rentals in Tempe?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Tempe range from $750 to $13,841, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $16,000. Four Bedroom Single-Family rentals are also available starting from $725 and Four Bedroom Apartments start at $700.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ article

A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

Written by: Andrew Jollett

I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.